Short interest for Pyxis Oncology gives investors a sense of the degree to which investors are betting on the decline of Pyxis Oncology's stock. Short interest data is updated every two weeks.

Pyxis Oncology Stock (NASDAQ:PYXS), Short Interest Report

Pyxis Oncology

Pyxis Oncology Inc is a preclinical oncology company focused on developing an arsenal of next-generation therapeutics to target difficult-to-treat cancers and improve quality of life for patients. It develops the product candidates with the objective to directly kill tumor cells, and to address the underlying pathologies created by cancer that enable its uncontrollable proliferation and immune evasion.

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Shares of  Ulta Beauty, Inc. (NASDAQ: ULTA) fell sharply during Wednesday’s session amid the company&#39;s presentation at the J.P. Morgan Retail Roundup investor conference where the company reportedly issued a weak outlook.

Ulta Beauty shares dipped 13.7% to $448.08 on Wednesday.

Why Ulta Beauty Shares Are Trading Lower By Around 14%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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U.S. stocks were higher, with the Dow Jones gaining over 50 points on Wednesday.

Signet Jewelers, Dave &amp; Buster&#39;s Entertainment, Blue Owl Capital And Other Big Stocks Moving Higher On Wednesday

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Shares of  FedEx Corporation (NYSE: FDX) rose sharply in today’s pre-market trading after the company reported better-than-expected earnings for its third quarter and authorized a new $5 billion 

Why FedEx Shares Are Trading Higher By Around 12%; Here Are 20 Stocks Moving Premarket

Pyxis Oncology Inc

Politics

Legal

General

Judge Juan Merchan Says A Mistrial In Former President Trump's Hush Money Case Is Not Warranted

Wedbush analyst Tom Nikic maintains ThredUp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDUP#NASDAQ">TDUP</a>) with a Outperform and lowers the price target from $4 to $3.

Price Target

Analyst Ratings

TDUP

Wedbush Maintains Outperform on ThredUp, Lowers Price Target to $3

Cannabis use of any kind is illegal in Wisconsin. Even in light of the Biden administration&#8217;s plan to <a href="https://www.benzinga.com/markets/cannabis/24/04/38530190/breaking-dea-reportedly-moves-to-reschedule-cannabis-stocks-rise-sharply-on-the-news">reclassify cannabis</a> as a Schedule III substance through the Drug Enforcement Administration (DEA), Wisconsin Republicans are strongly against recreational use, while their proposal to legalize medical marijuana in Wisconsin was <a href="https://www.benzinga.com/markets/cannabis/24/02/37168284/gop-plan-to-legalize-medical-marijuana-in-wisconsin-is-dead-for-now-says-assembly-speaker">left dead in the water for this legislative session.</a>
Yet, Kristin White Eagle, a member of the Ho-Chunk Nation Tribal Legislature, continues to push for the policy change, now more than ever as Ho-Chunk tribal legislature voted to decriminalize marijuana on tribal lands, as per the April 30 announcement.
"Across the country, we have seen the benefits of cannabis," White Eagle said as <a href="https://www.jsonline.com/story/news/local/wisconsin/2024/05/03/ho-chunk-nation-decriminalizes-cannabis/73540880007/">reported</a> by Milwaukee Journal Sentinel. "It's time to move toward an end to this prohibition." 
State Senate Minority Leader Melissa Agard (D-Madison) <a href="https://www.benzinga.com/markets/cannabis/23/11/35900433/gop-in-wisconsin-under-pressure-to-legalize-weed-as-state-sen-agards-new-petition-gains-traction">once called Wisconsin</a> an "island of prohibition." 
The Ho-Chunk Nation, which is concentrated in The Great Lakes region, <a href="https://wisconsinfirstnations.org/ho-chunk-nation/">owns land in 14 counties in Wisconsin.</a> Its members have used cannabis for centuries.
"The Ho-Chunk Nation recognizes that marijuana and its derivatives are natural growth plants with medicinal and industrial applications," the tribe said in a statement. "Indigenous people have used marijuana and hemp for hundreds of years for a variety of purposes and the Ho-Chunk Nation acknowledges its functional purpose."
See also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38361932/eastern-band-of-cherokee-indians-opens-north-carolinas-first-and-only-medical-marijuana-dispensa">Eastern Band of Cherokee Indians Opens North Carolina&#8217;s First And Only Medical Marijuana Dispensary On 4/20</a>
The tribe said it plans on venturing into the cannabis sector once the plant is deemed legal statewide. Yet, questions arise around its right to sell cannabis on federal trust reservation land as it is against federal law.
"Tribes are able today to self-determine their interests in cannabis and the complex landscape requires the navigation of local, tribal, state and federal policy," said Rob Pero, founder of the nonprofit Indigenous Cannabis Industry Association. "We see the reclassification empowering tribes to engage meaningfully throughout the supply chain, from farming to processing to retail and more, as well as to facilitate interstate nation-to-nation commerce."
Matthew Fletcher, a University of Michigan law professor and expert on tribal law weighed on the issue.
&#8220;The only way to do that would be on tribal trust land/Indian country land, and since federal law still bans cannabis, no, there's no way,&#8221; Fletcher said. &#8220;That doesn't mean tribes won't do it, but they are at the complete mercy of the whims of the federal government's decision to prosecute or not. It's no way to do business. The same is true even if the state makes it legal.&#8221;
Now read: <a href="https://www.benzinga.com/markets/cannabis/23/08/33492546/cannabis-sales-launch-on-tribal-land-in-minnesota-as-rest-of-state-works-out-red-tape-for-legal-">Cannabis Sales Launch On Tribal Land In Minnesota As Rest Of State Works Out Red Tape For Legal Program</a>
Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

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Regulations

Ho-Chunk Nation Decriminalizes Cannabis On Its Land In Wisconsin, Viewed As 'An Island Of Prohibition'

TJX Companies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) short percent of float has fallen 23.85% since its last report. The company recently reported that it has 9.40 million shares sold short, which is 0.83% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.85 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>TJX Companies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715105720_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for TJX Companies has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing TJX Companies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, TJX Companies's peer group average for short interest as a percentage of float is 17.98%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(TJX) - Analyzing TJX Companies's Short Interest

Kirby's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEX#NYSE">KEX</a>) short percent of float has fallen 5.63% since its last report. The company recently reported that it has 1.04 million shares sold short, which is 2.01% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.6 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Kirby Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715105716_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Kirby has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Kirby's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Kirby's peer group average for short interest as a percentage of float is 3.69%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Kirby's Recent Short Interest

PayPal Holdings's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NYSE">PYPL</a>) short percent of float has fallen 3.37% since its last report. The company recently reported that it has 20.97 million shares sold short, which is 2.01% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.32 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PayPal Holdings Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715105710_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PayPal Holdings has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing PayPal Holdings's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PayPal Holdings's peer group average for short interest as a percentage of float is 4.93%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

PYPL

How Is The Market Feeling About PayPal Holdings?

Needham analyst Joseph Stringer maintains Rhythm Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYTM#NASDAQ">RYTM</a>) with a Buy and lowers the price target from $50 to $46.

RYTM

Needham Maintains Buy on Rhythm Pharmaceuticals, Lowers Price Target to $46

Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Tuesday.</a>
During his recent visit to China,&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/elon-musk" rel="noreferrer noopener">Elon Musk</a>, CEO of Tesla, reportedly suggested testing&nbsp;the&nbsp;full self-driving (FSD) capabilities&nbsp;of its vehicles&nbsp;by deploying them as &#8220;taxis.&#8221;&nbsp;
The Chinese government might have&nbsp;provided partial support for&nbsp;this proposal, China Daily&nbsp;<a target="_blank" href="https://www.chinadaily.com.cn/a/202405/08/WS663a521da31082fc043c5c31.html#:~:text=A%20source%20close%20to%20Baidu,into%20its%20vehicles%20in%20China." rel="noreferrer noopener">reported</a>, citing its sources.
Apart from seeking approval for its advanced FSD software rollout in China, Musk also proposed integrating these functions into the country&#8217;s taxi services, according to sources familiar with the matter, as added by China Daily.
According to&nbsp;Benzinga Pro,&nbsp;TSLA stock has gained over 4% in the past year.&nbsp;
Industry experts noted that despite increasing protectionism, exemplified by TikTok&#8217;s ban in the U.S., China has signaled its willingness&nbsp;to further open its doors to multinational companies.&nbsp;
This move&nbsp;aims to allow&nbsp;these companies to test their advanced technologies in the country for mutual benefit.
Chinese internet company Baidu, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) held a press conference on April 20, announcing collaborations with various companies, including Tesla,&nbsp;for the launch of&nbsp;its advanced lane-level navigation system, China Daily stated.
Several media reports suggested that Tesla had struck a deal with Baidu to overcome a regulatory obstacle for its autonomous driving services. However, a source close to Baidu informed China Daily that they had not observed &#8220;any new deal related to FSD functions&#8221; between the two companies.
The company has also been in the headlines for revealing plans to shut down production in Grünheide for four days.&nbsp;
Due to ongoing multi-day protests against Tesla&#8217;s expansion in Grünheide, the electric vehicle giant has decided to have all employees work from home this Friday, according to&nbsp;<a target="_blank" href="https://www.handelsblatt.com/unternehmen/industrie/elektromobilitaet-tesla-legt-produktion-in-gruenheide-fuer-vier-tage-still/100037131.html" rel="noreferrer noopener">Handelsblatt</a>.
Price Action:&nbsp;TSLA shares are trading lower by 3.31% to $178.64 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Equities

Media

BIDU

TSLA

What's Going On With Tesla Shares Tuesday?

HC Wainwright &amp; Co. analyst Ed Arce reiterates Travere Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVTX#NASDAQ">TVTX</a>) with a Buy and maintains $19 price target.

Reiteration

TVTX

HC Wainwright & Co. Reiterates Buy on Travere Therapeutics, Maintains $19 Price Target

Global

BRKR

German Federal Patent Court Invalidates European Patent No. 2794928B1 In Germany

WIIM

PRGO

Perrigo shares are trading lower following a Q1 revenue miss.

NanoString, now a Bruker business, will promptly seek an end to the injunction impacting sales of CosMx SMI products in Germany
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bruker.com&amp;esheet=53977100&amp;newsitemid=20240507563533&amp;lan=en-US&amp;anchor=Bruker+Corporation&amp;index=1&amp;md5=4c5082ca5ae77a72a52a4eac7e40cb58">Bruker Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKR#NASDAQ">BRKR</a>) today announced that the German Federal Patent Court has ruled in favor of NanoString Technologies Germany GmbH by invalidating European Patent No. 2794928B1 (the "928 Patent") in Germany (case 3 Ni 20/22). NanoString is now a Bruker business following Bruker's asset acquisition of the businesses of NanoString Technologies, Inc on May 6th, 2024. The 928 Patent has been asserted by 10x Genomics against NanoString in patent infringement cases in Germany and before the European Unified Patent Court (UPC) involving NanoString's CosMx Spatial Molecular Imager (SMI) products for RNA detection. The Federal Patent Court ruled that the German part of the 928 Patent is invalid.
"NanoString has consistently maintained that the patents being asserted by 10x Genomics against NanoString's CosMx SMI products are invalid. Today's ruling of the German Federal Patent Court is a decisive victory for NanoString and Bruker and a resounding vindication of NanoString's belief from the outset that these cases are without merit. This ruling is also a win for science and enables a re-leveling of the playing field in the research tools industry in Germany," commented Dr. Mark R. Munch, President of the Bruker NANO Group.
Today's decision in Germany follows NanoString's win before the UPC Court of Appeal in Luxembourg in February on a related patent. In that case, the Court overturned a preliminary injunction that had previously been issued by a lower court based on the closely related European Patent 4108782B1 (the "782 Patent"). The UPC Court of Appeal noted in its February ruling that it was likely "that the patent at issue will not prove to be valid," citing concerns about the obviousness of the patent claims based on the prior art. Today's decision of the German Federal Patent Court is in line with that separate court's analysis.
"Today's win is further evidence of the turning of the tide in our favor in these cases," Dr. Munch added. "Bruker expects to build on this significant legal victory and to further fight for scientific freedom."
Following today's win, NanoString will promptly ask the German Higher Regional Court of Munich to permanently lift the injunction impacting NanoString's CosMx products and the scientists who rely on them in Germany. In December 2023, the German Higher Regional Court of Munich cited concerns with the lower Munich Regional Court's May 2023 decision and granted NanoString the right to have the injunction on sales of CosMx products in Germany lifted, subject to payment of a bond. NanoString also expects to have its attorneys' fees and related legal expenses reimbursed in light of today's ruling.

German Federal Patent Court Invalidates Patent Asserted By 10x Genomics, Delivering Legal Win To NanoString, Now A Bruker Business, Will Seek An End To The Injunction Impacting Sales Of CosMx SMI Products In Germany

Vornado Realty shares are trading lower following worse-than-expected Q1 financial results.

HC Wainwright &amp; Co. analyst Emily Bodnar reiterates Agenus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGEN#NASDAQ">AGEN</a>) with a Buy and maintains $40 price target.

AGEN

HC Wainwright & Co. Reiterates Buy on Agenus, Maintains $40 Price Target

SGRY

Surgery Partners shares are trading higher following strong Q1 earnings.

APLS

Apellis Pharmaceuticals shares are trading lower following Q1 earnings.

BWXT

BWX Technologies shares are trading lower following Q1 earnings.

PENN

PGA Of America And Penn Entertainment Announce Sports Betting Partnership; ESPN Bet Becomes The "Official Sports Betting Sponsor" Of The PGA Championship Through 2026

JJSF

J&J Snack Foods shares are trading higher following strong Q2 earnings.

Paymentus Holdings shares are trading lower following Q1 earnings.

Leerink Partners analyst Jeffrey La Rosa has maintained their bullish stance on PYXS stock, giving a Buy rating on March 22. Jeffrey La Rosa has gi...

Optimistic Buy Rating for Pyxis Oncology's PYX-201 Based on Strong Safety Profile and Promising Therapeutic Potential

Pyxis Oncology gets $8M payment for sale pf royalty rights

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
One of the best dip-buying opportunities in <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a> to buy was in&nbsp;Viking Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/vktx-stock-quote/">VKTX</a>).



After hitting a high of $99.41, VKTX dipped back to about $60.30. All because of obesity data from a competitor. But that pullback wouldn&rsquo;t last long. In fact, by March 26, the stock soared more than $12 a share on promising new weight loss data on its oral weight loss treatment.



Plus, there was news&nbsp;Viking now plans to start Phase 2 trials of its once-a-day weight loss pill later this year.&nbsp;<a href="https://www.cnbc.com/2024/03/26/viking-therapeutics-weight-loss-pill-shows-positive-study-results.html">As noted by CNBC</a>, &ldquo;The phase one trial for the pill followed more than 40 patients with obesity for around a month. Those people took different dose sizes of the drug or received a placebo. Viking said patients who received the pill once a day lost up to 5.3% of their weight on average, or up to 3.3% more than those who took a placebo, at 28 days.&rdquo;



Even better, Viking Therapeutics could easily see even more upside. Its injectable and oral treatment trials continue to show blockbuster potential. But it&rsquo;s not just VKTX we like on dips. Here are three biotech stocks to buy today.



<h2>Amgen (AMGN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/amgn-stock-1-300x169.jpg" alt="the Amgen (AMGN) logo on a building during daylight"><div>Source: Michael Vi / Shutterstock.com</div></div>Let&rsquo;s start out with&nbsp;Amgen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/amgn-stock-quote/">AMGN</a>), a $151 billion biopharma with plenty of near-term upside potential. After plummeting from about $325 to a recent low of $270, the AMGN stock is just starting to pivot higher. From its last traded price of $281.77, I&rsquo;d like to see it refill its bearish gap around $325 again near term.



Helping, the company wants to jump into the obesity drug boom.&nbsp;



As noted by CNBC,&nbsp;<a href="https://www.cnbc.com/2024/03/24/amgen-aims-to-enter-weight-loss-drug-market-with-a-new-approach.html#:~:text=The%20biotech%20company%20is%20testing%20an%20injectable%20treatment%20that%20helps,after%20they%20stop%20taking%20it.">AMGN is testing an injectable</a>&nbsp;that helps people lose weight differently from current injections from Eli Lilly, for example. Amgen&rsquo;s treatment, MariTide, is being tested as a once-a-month or even less frequent injectable.&nbsp;



Better, Goldman Sachs just upgraded the stock to a Conviction Buy with a $350 target. &ldquo;The analyst believes Amgen is well positioned to add multi-billion-dollar opportunities to its portfolio through a robust pipeline of drugs in development &mdash; many of which have key clinical trial read-outs in 2024,&rdquo;&nbsp;<a href="https://thefly.com/news.php?symbol=AMGN">as noted by TheFly.com</a>.



<h2>Pyxis Oncology (PYXS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/droplet-test-tube-biotech-1600-3-300x169.jpg" alt="Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotech"><div>Source: shutterstock.com/Romix Image</div></div>Another one of the top biotech stocks to buy on a dip is&nbsp;Pyxis Oncology&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pyxs-stock-quote/">PYXS</a>).



After rallying from a low of about $1.50 to $6.79, the stock slipped to $3.83 in recent days. However, we expect for the biotech that creates antibody-drug conjugate (ADC) drugs to trade significantly higher from its current price.



For one, remember, according to&nbsp;Pfizer&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/pfe-stock-quote/">PFE</a>) CEO Albert Bourla, &ldquo;<a href="https://www.cnbc.com/2024/01/14/cancer-drugs-renewed-interest-in-adcs-will-continue-in-2024.html">Antibody-drug conjugates have become the hottest area of oncology</a>.&rdquo; Two, the company is actively developing PYX-201 for the potential treatment of relapsed or refractory solid tumors. So far, the treatment has been well-tolerated with no significant evidence of toxicities,&nbsp;<a href="https://pyxisoncology.com/portfolio/">according to the company</a>.



Three, the company recently posted an EPS loss of $1.85 a share, which beat by 10 cents. Plus, it has about $120.8 million in cash on hand at the moment. And four, analysts over at H.C. Wainwright just raised their price target to $7 on PYXS, with a buy rating.



<a href="https://thefly.com/news.php?symbol=PYXS">As noted by TheFly.com</a>, &ldquo;The analyst increased the peak penetration rates for PYX-201 to 18% from 15% for all indications based on the &ldquo;differentiated&rdquo; safety profile and adjusted operational expenses in 2024 and beyond.&rdquo;



<h2>SPDR S&amp;P Biotech ETF (XBI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/shutterstock_1726134715-300x169.png" alt="Biochemical/biotech research scientist team working with microscope"><div>Source: Mongkolchon Akesin / Shutterstock.com</div></div>We can also look at the&nbsp;SPDR S&amp;P Biotech ETF&nbsp;(NYSEARCA:<a href="https://investorplace.com/stock-quotes/xbi-stock-quote/">XBI</a>), which recently dipped to $92.69.



What&rsquo;s nice about the XBI exchange-traded fund is that we can diversify with 135 different holdings at less than $95 a share. In fact, with an expense ratio of just 0.35%, the XBI ETF holds numerous hot biotech stocks. Among them are&nbsp;Moderna(NASDAQ:<a href="https://investorplace.com/stock-quotes/mrna-stock-quote/">MRNA</a>),&nbsp;Exelixis&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/exel-stock-quote/">EXEL</a>),&nbsp;Exact Sciences&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/exas-stock-quote/">EXAS</a>), Amgen, and&nbsp;Alnylam Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/alny-stock-quote/">ALNY</a>).



While the ETF already ran from about $65 to its current price of $92.69, there&rsquo;s still plenty of near-term upside remaining. With new biotech innovation,&nbsp;demand for better treatment, pharmaceutical companies strengthening pipelines and a resurgence of M&amp;A,&nbsp;biotech could get explosive. And if that&rsquo;s the case, you want to be well-diversified for max exposure.



If we were to buy 100 shares of just one of its holdings &mdash; let&rsquo;s say ALNY &mdash; it would cost us about $15,200. Again, just for that one stock. Meanwhile, we can own 100 shares of XBI for about $9,300 and gain exposure to 145 big biotech names.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/?utm_source=Nasdaq&amp;utm_medium=referral">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/3-biotech-stocks-to-buy-on-the-dip-march-2024/">3 Biotech Stocks to Buy on the Dip: March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Biotech Stocks to Buy on the Dip: March 2024

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